Corporate & Business Tax Archives

The gig economy is booming. Freelancers and independent contractors are rapidly gaining ground in the workforce. In 2015 there were 3.2 million Americans worked in the gig economy. Some research projects that this category of workers will make up 43 percent of the country's workforce by 2020.

The new GOP tax bill has been making headlines for weeks. The relative pros and cons of the bill have been a subject of heated debate in Washington. For the passive onlooker, it can all be a bit too much to make sense of.

The current president of the United States has a major reputation for the way he practices the art of the deal. He even has a book by that title. In it, Donald Trump offers a list of tactics that he says have stood him in good stead at various bargaining tables. These include such tips as:

In recent posts, we have focused attention on how government is helping Georgia residents recover in the wake of Tropical Storm Irma. First, there were pledges of help. Since then, agencies at the state and federal levels have started to make good on the promises and the latest one provides some specific help for individuals who live or have businesses in the state.

The corporate business form is complicated, but incredibly useful for many types of business. Structuring a corporation can be complicated, of course, but when it comes to the way the business is taxed, there are two basic options.

Tax filing issues are often problematic for small business owners. This is often due to the simple fact that they have not kept up to date on current tax laws. One issue that can be particularly troublesome is business deductions.

Previously, we began looking at the issue of worker classification and the costs employers can face when they make mistakes in this area. As we noted, employers who misclassify workers may end up having to pay taxes twice if they are unable to provide proof that an employee paid the required taxes.

Worker classification is an important issue for employers as there are tax implications that have to be considered. For workers classified as employees, there are income taxes that must be withheld or paid, including payroll taxes for Social Security and Medicare. Employers who fail to withhold payroll and income taxes for employees can face issues with the IRS, but there is no such requirement for independent contractors.

Earlier this week, Governor Nathan Deal signed into law a measure that, according to supporters, will provide significant tax relief to rural communities. The bill, which passed by a narrow margin, provides $60 million in tax credits to companies that invest in businesses in rural Georgia communities. The law, it is hoped, will provide incentive for businesses to put money into rural communities, many of which are struggling with high unemployment and slow economic growth.

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